Author: Nerteley Nettey
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Passage of Corporate Insolvency Bill timely for businesses hit by COVID-19 – GARIA
The President of the Ghana Association of Restructuring and Insolvency Advisers, GARIA, Felix Addo, says the passage of the Corporate Insolvency Bill, 2019, could not have come at a better time than now. According to him, with the outbreak of the novel Coronavirus and its economic impact on businesses, the Bill when assented to, will…
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Assibey-Yeboah advocates MoMo transfers to vulnerable Ghanaians hit by COVID-19
The Chairman of Parliament’s Finance Committee, Dr. Mark Assibey-Yeboah, is advocating for a collaborative system between government and telecommunication providers to make cash transfers to the most vulnerable segments in the society as the impact of the COVID-19 pandemic worsens. His call comes of the back of concerns by some telecommunication providers about the rise…
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CBG to announce modalities for cash and bond payments to depositors of defunct S&Ls, Microfinance firms
Consolidated Bank Ghana, CBG, has announced to the general public that it will publish the full modalities for payment of cash and bonds on behalf of the Receiver for all depositors of defunct microfinance and savings and loans companies. According to the bank, it has established a mechanism for those depositors who wish to obtain…
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DalexSwift investment clients to enjoy zero percent interest for 3 months
As part of measures to mitigate the economic impact of the novel Coronavirus (COVID-19) pandemic on individuals and businesses in the country, Dalex Finance, is offering loans to all its DalexSwift investment clients at a zero percent interest rate for the next three months. The bank’s offer comes after the Bank of Ghana in a…
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COVID-19 cases in Ghana rise to 287
The total number of Coronavirus cases in Ghana has increased to 287. This means that 73 more cases have been added to the country’s case count. The rise in the number of cases follows measures of enhanced contact tracing and testing, the Ghana Health Service said. Details of the latest additions were however not given.…
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Banks cut interest rate by 200 basis points to mitigate impact of COVID-19
The Ghana Association of Bankers has announced a cut in its benchmark interest rate by 200 basis points to mitigate the economic impact of COVID-19 on businesses and individuals. In a statement, the Association also announced a three billion cedis support package by way of loans to players in Ghana’s pharmaceutical industry. The 200 basis…
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Farmers could slow production as demand reduces in lock-down areas – GAWU warns
In spite of measures taken by government to curtail the spread of the COVID-19 pandemic, including a partial lock-down in parts of the country, the movement of foodstuff into such locked-down areas is allowed. This is because food vendors are exempted from the exercise, thereby allowing markets to operate. But the General Secretary of the…
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COVID-19: Ghana Hotels Assoc. appeals for support for members to maintain staff
The Ghana Hotels Association is pleading with government to support the payment of salaries for hotel staff that have been sent home due to low patronage as a result of the COVID-19 pandemic. The hospitality and tourism industry is among the sectors severely hit by the pandemic as hotel rooms and conference rooms are almost…
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COVID-19: Banks to support pharmaceutical firms with GHS3bn loan package
The Ghana Association of Bankers has announced a GHS3 billion specialized loan package to support pharmaceutical companies operating in the country, as the coronavirus pandemic takes a toll on businesses. According to the Association, the pharmaceutical sector is a critical component in the fight against COVID-19, hence the need to assist the sector. The Association…
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Be considerate with our members as business slows – GUTA begs shop owners
The Ghana Union of Traders Association, GUTA, is appealing to shop owners who have rented their spaces to traders to consider suspending rent payment as businesses equally bear the brunt of the coronavirus pandemic. According to GUTA, even though its members have paid advanced rent to use the shops, the lockdown and the accompanying challenges…